- Historically, mortgage delinquencies have risen 85 percent of the time in April; this month they declined 1.6 percent – about equal to the size of their average usual increase
- April’s decline halted a seven-month trend of annual increases in the national delinquency rate
- Areas impacted by Hurricanes Harvey and Irma led April’s delinquency improvement, but slight declines were seen in non-affected areas as well
- Over 90,000 seriously delinquent mortgages (90 or more days past due) attributed to the 2017 hurricane season remain in affected areas of Texas, Florida and Georgia
- Foreclosure starts declined 5.4 percent overall and 30 percent from March in hurricane-affected areas
- The number of mortgages in active foreclosure hit its lowest point since August 2006
- Prepayment activity fell 4.3 percent in April from last month and was down slightly from last year’s level
JACKSONVILLE, Fla. , May 23, 2018 (GLOBE NEWSWIRE) -- Black Knight, Inc. (NYSE: BKI ) reports the following “first look” at April 2018 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.67% Month-over-month change: -1.60% Year-over-year change: -10.17%
Total U.S. foreclosure pre-sale inventory rate: 0.61% Month-over-month change: -2.26% Year-over-year change: -28.41%
Total U.S. foreclosure starts: 49,300 Month-over-month change: -5.37% Year-over-year change: -6.63%
Monthly prepayment rate (SMM): 0.84% Month-over-month change: -4.29% Year-over-year change: -2.64%
Foreclosure sales as % of 90+: 1.61% Month-over-month change: -5.11% Year-over-year change: -17.93%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,885,000 Month-over-month change: -27,000 Year-over-year change: -187,000
Number of properties that are 90 or more days past due, but not in foreclosure: 598,000 Month-over-month change: -34,000 Year-over-year change: 17,000
Number of properties in foreclosure pre-sale inventory: 314,000 Month-over-month change: -7,000 Year-over-year change: -119,000
Number of properties that are 30 or more days past due or in foreclosure: 2,199,000 Month-over-month change: -33,000 Year-over-year change: -307,000
| Top 5 States by Non-Current* Percentage | ||
| Mississippi: | 9.34% | |
| Louisiana: | 7.52% | |
| Florida: | 6.62% | |
| Alabama: | 6.60% | |
| West Virginia: | 6.11% | |
| Bottom 5 States by Non-Current* Percentage | ||
| Minnesota: | 2.25% | |
| Washington: | 2.23% | |
| North Dakota: | 2.23% | |
| Oregon: | 2.20% | |
| Colorado: | 1.81% | |
| Top 5 States by 90+ Days Delinquent Percentage | ||
| Florida: | 2.95% | |
| Mississippi: | 2.93% | |
| Louisiana: | 2.16% | |
| Alabama: | 1.91% | |
| Texas: | 1.83% | |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | ||
| Florida: | -33.18% | |
| Texas: | -26.11% | |
| Louisiana: | -18.29% | |
| South Dakota: | -16.19% | |
| District of Columbia: | -15.86% | |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | ||
| Alaska: | 7.20% | |
| North Dakota: | -4.11% | |
| Montana: | -6.93% | |
| New Hampshire: | -7.55% | |
| Maine: | -7.93% | |
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Notes: 1) Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets. 2) All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.
For a more detailed view of this month’s “first look” data, please visit the Black Knight newsroom .
The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://www.blackknightinc.com/data-reports/ by June 4, 2018.
For more information about gaining access to Black Knight’s loan-level database, please send an email to dataanalyticsinfo@bkfs.com .
About Black Knight Black Knight (NYSE: BKI ) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com .
| For more information: | |
| Michelle Kersch Black Knight, Inc. 904.854.5043 michelle.kersch@bkfs.com | Mitch Cohen Black Knight, Inc. 704.890.8158 mitch.cohen@bkfs.com |
